With effect from 1st January 2011, KYC will be mandatory for all investors irrespective of amount of investment. In case of investment for a minor, Guardian/Parent who is investing on behalf of the minor must be KYC complaint. Impact of this move: 1. Even small investors have to now register for KYC. 2. Address updates ...

Currently the easiest way to open a bank account is opening a Salary Account through the Company. Just fill the form, give a photo and company gives a letter and presto the account is openned. But finding fault in this process of opening accounts without proper KYC norms, RBI has asked banks to ensure that ...